May 13, 2011China: Economic Transformation and Financial Reform
John Lipsky, First Deputy Managing Director, International Monetary Fund at the International Forum of Sovereign Wealth Funds, Beijing, China
Good Morning. It is a great pleasure and honor to have the opportunity to address such an eminent gathering of officials, finance experts, and distinguished guests. I am particularly grateful for the chance to discuss the path ahead for China’s economy in the context of the broad issues that are being explored during this historic Forum.
In my remarks today, I would like to address one aspect of China’s economic transformation that has important implications for investors and policy-makers here and around the world, including for sovereign wealth funds. That is: the role of China’s financial sector reform in promoting more balanced and sustainable growth. This is an area that has received prominent attention in the 12th Five Year Plan, reflecting a clear recognition that a reformed financial system will provide an important boost to the the desired transformation of China’s economic growth model. In fact, this goal was featured prominently in Vice Premier Li Keqiang’s important address yesterday to this Forum.
read full article @ http://www.imf.org/external/np/speeches/2011/051311.htm
